Courtesy of: Darin Revermann, Real Broker LLC, ilbroker@therealbrokerage.com
Courtesy of: Darin Revermann, Real Broker LLC, ilbroker@therealbrokerage.com
$329,000
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4 bed
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2,300 square feet
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4.00 Bath (4 Full)
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Lot: 0.29 Acres
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Other
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$329,000
105 Timberlake Outstanding investment opportunity in Damiansville, Illinois - 105 & 107 Timberlake Drive delivers immediate, day-one cash flow in a quiet, established community just minutes from Breese and the I-64 corridor. This meticulously maintained duplex features two spacious 2-bedroom, 2-bathroom units, each with a partially finished basement - providing tenants with valuable extra living and storage space that sets this property apart from typical rental inventory and fuels long-term occupancy. This property has never had a vacancy. Zero. The owner's commitment to maintenance, management, and tenant relationships speaks for itself - and it shows in the numbers. Both units are currently occupied at rents that are meaningfully below today's market rate, with comparable 2-bedroom, 2-bathroom units in the area leasing for $1, 400/month. At current rents of $1, 350 and $1, 200/month, a buyer acquires immediate cash flow while sitting on significant upside - bringing both sides to market rate adds over $5, 400/year in gross income at the next lease renewal. At the current asking price of $329, 000 with in-place rents, the property produces a solid cap rate with strong DSCR that satisfies commercial lending requirements - and that story only gets better as rents normalize to market. The partially finished basements on each side represent an additional value-add opportunity for a buyer willing to invest modest finish dollars in exchange for a premium rent bump. Pride of ownership is evident throughout this property. If you are looking for a stabilized, low-maintenance, income-producing duplex in a growing Clinton County community with a proven track record and room to grow, 105 & 107 Timberlake Drive is exactly what you have been waiting for. Priced at $329, 000. Do not disturb tenants - call the listing agent to schedule a showing.
Courtesy of: Darin Revermann, Real Broker LLC, ilbroker@therealbrokerage.com
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